Ethereum Price Slips Under $2,400 as Ether ETFs Shed $362.8…
By Tobi Opeyemi Amure
AI summary of the source article
Ethereum slipped below $2,400 as US spot Ether ETFs experienced sustained outflows, losing $362.8 million since October 14. Concurrently, BitMine increased its ETH holdings, and JPMorgan expanded JPM Coin to the Ethereum network.
Why it matters
Measured against what each complex holds, Ether lost roughly ten times the proportion Bitcoin did, which is the clearest read on why the Ethereum price has lagged.
Key facts
- Ethereum traded at $2,392.80, down 1.86% over 24 hours and 9.33% over the month.
- Eleven US spot Ether ETFs shed $103.28 million on October 19 and have lost $413.46 million over the past 30 days.
- JPMorgan is extending its JPM Coin deposit token to Ethereum for institutional clients due to the network's liquidity and tokenized asset ecosystem.
Source excerpt · FinanceFeeds
The Ethereum price was under $2,400 on Tuesday afternoon, trading at $2,392.80 on Bitstamp , down $45.20 or 1.86% over 24 hours. That extends a month in which ETH has given up 9.33% and leaves the network capitalized at $291.43 billion. Ether exchange-traded funds have been selling into that decline for the better part of three weeks. The eleven US spot products lost $103.28 million on 19 October…